Citigroup Credit Suisse J.P. Morgan
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Use these links to rapidly review the document TABLE OF CONTENTS TABLE OF CONTENTS Table of Contents Filed pursuant to Rule 424(b)(5) Registration No. 333-214273 The information in this preliminary prospectus supplement is not complete and may be changed. This preliminary prospectus supplement and the accompanying prospectus are not an offer to sell these securities nor a solicitation to buy these securities in any jurisdiction where such offer or sale is not permitted. SUBJECT TO COMPLETION, DATED SEPTEMBER 4, 2019 PRELIMINARY PROSPECTUS SUPPLEMENT (To Prospectus Dated May 22, 2017) $ $ % Notes due 2024 $ % Notes due 2029 We are offering $ principal amount of % Notes due 2024, which we refer to in this prospectus supplement as the "2024 notes," and $ principal amount of % Notes due 2029, which we refer to in this prospectus supplement as the "2029 notes." We collectively refer to all of the series of notes offered hereby as the "notes." The 2024 notes will bear interest at a rate per annum of %, and the 2029 notes will bear interest at a rate per annum of %. We will pay interest on the notes semi- annually in arrears on and of each year, beginning on , 2020. The 2024 notes will mature on , 2024 and the 2029 notes will mature on , 2029. We may redeem any series of the notes at our option and at any time, either in whole or in part, at the applicable redemption price described in this prospectus supplement. The notes will be our unsecured obligations and will rank equally with our unsecured senior indebtedness from time to time outstanding. The notes will be issued only in denominations of $2,000 and in integral multiples of $1,000 in excess thereof. The notes will not be listed on any securities exchange or quoted on any automated quotation system. There is currently no public market for any series of the notes. Investing in the notes involves risks. See "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2018, which is incorporated by reference into this prospectus supplement and the accompanying prospectus. None of the Securities and Exchange Commission, any state securities commission or any other regulatory body has approved or disapproved of the notes or passed upon the accuracy or adequacy of this prospectus supplement or the accompanying prospectus. Any representation to the contrary is a criminal offense. Per 2024 Per 2029 Note Total Note Total Public offering price % $ % $ Underwriting discounts % $ % $ Proceeds, before expenses, to The Coca-Cola Company % $ % $ The public offering prices set forth above do not include accrued interest, if any. Interest on the notes will accrue from , 2019. The underwriters expect to deliver the notes to investors in book-entry form only through The Depository Trust Company for the accounts of its participants, including Clearstream Banking, societé anonyme and Euroclear Bank S.A./N.V., on or about , 2019. Joint Book-Running Managers Citigroup Credit Suisse J.P. Morgan BNP PARIBAS Wells Fargo Securities The date of this prospectus supplement is , 2019. Table of Contents TABLE OF CONTENTS Prospectus Supplement Page ABOUT THIS PROSPECTUS SUPPLEMENT S-i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS S-i SUMMARY S-1 USE OF PROCEEDS S-4 CAPITALIZATION S-5 DESCRIPTION OF NOTES S-6 U.S. FEDERAL INCOME TAX CONSIDERATIONS TO NON-U.S. HOLDERS S-10 UNDERWRITING S-13 LEGAL OPINIONS S-18 Prospectus ABOUT THIS PROSPECTUS 1 WHERE YOU CAN FIND MORE INFORMATION 1 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS 2 OUR COMPANY 4 USE OF PROCEEDS 5 RATIO OF EARNINGS TO FIXED CHARGES 5 DESCRIPTION OF DEBT SECURITIES 6 DESCRIPTION OF CAPITAL STOCK 20 DESCRIPTION OF WARRANTS 24 DESCRIPTION OF DEPOSITARY SHARES 25 DESCRIPTION OF PURCHASE CONTRACTS 28 DESCRIPTION OF GUARANTEES 29 PLAN OF DISTRIBUTION 30 LEGAL MATTERS 32 EXPERTS 32 Table of Contents In this prospectus supplement, except as otherwise indicated or the context otherwise requires, the terms "The Coca-Cola Company," "Company," "we," "us" and "our" mean The Coca-Cola Company and all entities included in its consolidated financial statements. ABOUT THIS PROSPECTUS SUPPLEMENT We provide information to you about this offering in two separate documents. The accompanying prospectus provides general information about us and securities we may offer from time to time, some of which may not apply to this offering. This prospectus supplement describes the specific details regarding this offering. Generally, when we refer to the "prospectus," we are referring to both documents combined. Additional information is incorporated by reference into this prospectus supplement. If information in this prospectus supplement is inconsistent with the accompanying prospectus, you should rely on this prospectus supplement. You should rely only on the information contained or incorporated by reference into this prospectus supplement, the accompanying prospectus or any related free writing prospectus filed by us with the Securities and Exchange Commission (the "SEC"). We have not, and the underwriters have not, authorized anyone else to provide you with different or additional information. If anyone provides you with different or inconsistent information, you should not rely on it. We are not, and the underwriters are not, making an offer to sell these securities in any jurisdiction where the offer and sale is not permitted. You should not assume that the information in this prospectus supplement, the accompanying prospectus, any free writing prospectus or any document incorporated by reference is accurate as of any date other than their respective dates. Our business, financial condition, results of operations and prospects may have changed since those dates. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This prospectus supplement and the documents incorporated by reference herein may contain statements, estimates or projections that constitute "forward-looking statements" as defined under U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause The Coca-Cola Company's actual results to differ materially from its historical experience and our present expectations or projections. These risks include, but are not limited to, obesity concerns; evolving consumer product and shopping preferences; increased competition; water scarcity and poor quality; increased demand for food products and decreased agricultural productivity; product safety and quality concerns; perceived negative health consequences of certain ingredients, such as non-nutritive sweeteners and biotechnology-derived substances, and of other substances present in our beverage products or packaging materials; an inability to be successful in our innovation activities; an inability to protect our information systems against service interruption, misappropriation of data or breaches of security; failure to comply with personal data protection laws; failure to digitize the Coca-Cola system, changes in the retail landscape or the loss of key retail or foodservice customers; an inability to expand operations in emerging and developing markets; fluctuations in foreign currency exchange rates; interest rate increases; an inability to maintain good relationships with our bottling partners; a deterioration in our bottling partners' financial condition; increases in income tax rates, changes in income tax laws or unfavorable resolution of tax matters; increased or new indirect taxes in the United States or in one or more other major markets; an inability to realize the economic benefits we anticipate from our productivity and reinvestment program, or an inability to successfully manage its possible negative consequences; an inability to attract or retain a highly skilled workforce; increased cost, disruption of supply or shortage of energy or fuel; increased cost, disruption of supply or shortage of ingredients, other raw materials, packaging materials, aluminum cans and other containers; changes in laws and regulations relating to beverage containers and packaging; significant additional labeling or S-i Table of Contents warning requirements or limitations on the marketing or sale of our products; unfavorable general economic conditions in the United States; unfavorable economic and political conditions in international markets; litigation or legal proceedings; conducting business in markets with high-risk legal compliance environments; failure by our third-party service providers and business partners to satisfactorily fulfill their commitments and responsibilities; failure to adequately protect, or disputes relating to, trademarks, formulae and other intellectual property rights; adverse weather conditions; climate change; damage to our brand image and corporate reputation from negative publicity, whether or not warranted, concerning product safety or quality, human and workplace rights, obesity or other issues; changes in, or failure to comply with, the laws and regulations applicable to our products or our business operations; changes in accounting standards; an inability to achieve our overall long-term growth objectives; deterioration of global credit market conditions; default by or failure of one or more of our counterparty financial institutions; an inability to renew collective bargaining agreements